Cu Scrap Rises by 5-10Y/kg around Nagoya

Copper scrap price increased by 10 yen for copper scrap and by 5 yen per kilogram for brass scrap on Wednesday around Nagoya. The market price is 340-360 yen for higher grade electric wire scrap and 260-270 yen for brass shredding scrap, which contains around 65% copper.

Copper settlement at London Metal Exchange declined to US$ 3,911 per tonne on Wednesday after exceeded US$ 4,000 per tonne on a previous day for the first time in 4 months. Therefore, Japanese copper official price increased by 10,000 yen to 430,000 yen per tonne on Wednesday, which was lower price up than expected, and the scrap price also increased.

On the other hand, most of rolled copper makers decrease the scrap purchase volume and price for April-June compared with January-March. The purchase attitude would be same as January-March level at the best. A dealer sources said the dealers try to reduce the buying price to secure the margin at the decreasing selling price. However, the dealers’ buying scrap is higher when the scrap generation is low level.